NBAD raises cash dividend from 40% to 45%

Abu Dhabi: The National Bank of Abu Dhabi (NBAD) raised its cash dividend from the announced 40 per cent to 45 per cent at the request of shareholders during the bank’s annual general assembly on Tuesday.

During the meeting, Alex Thursby, the bank’s chief executive officer, said that NBAD will “alter the pace of its strategic plan” for 2016 on the back of the slowdown in the economy as a result of lower oil prices.

NBAD reported Dh5.23 billion in net profit in 2015, down 6 per cent compared to 2014.